On May 1st, the Ethereum Foundation made a new over-the-counter sale of 10,000 Ethereum to Bitmine, a company associated with Tom Lee. This is an operation that consistently continues a series of treasury sales.
According to information revealed by the Foundation through X, Sales were completed at an average price of $2,292.15 per token.which represents a revenue of $22.9 million. The transfer was made from a multi-signature wallet managed by the Ethereum Foundation.
The transaction follows another sale in March. When the Ethereum Foundation placed 5,000 ETH on BitMine At a price of nearly $2,042 per unit, it generated approximately $10.2 million in revenue.
This new acquisition solidifies BitMine Immersion Technologies as one of the most active institutional investors acquiring Ether directly from the Foundation’s treasury. Furthermore, as reported by CriptoNoticias, approximately 10% of all staked ETH will be accumulated.
The move reflects a broader trend. Bitcoin has historically dominated corporate financial strategies; Some companies are starting to consider Ethereum as a strategic asset Recognized for its role in decentralized finance, tokenization, and smart contracts.
The repeat purchases suggest a theme of sustained investment rather than specific operations, reinforcing the story of gradual institutional adoption of the Ethereum ecosystem.
On the seller’s side, This operation is part of the Ethereum Foundation’s financial management policythrough which we periodically convert a portion of our ETH reserves into fiat currency. This strategy is intended to ensure operational liquidity and reduce the impact of direct sales on the open market.
This type of movement is not new within the Ethereum ecosystem. The foundation has long relied on selling some of its assets to fund key activities such as protocol development, technology research, ecosystem growth, and community grants programs.
